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:: Volume 2, Issue 6 (3-2012) ::
2012, 2(6): 155-172 Back to browse issues page
Calculating Electricity Shadow Price in Iranian Power Market
Manzoor Davod , Hossein Rezaee
Abstract:   (10031 Views)
This paper aims to determine the optimum price of electricity during restructuring process. We maximized social welfare function subject to market equilibrium, maximum production capacity of each group of power plants, maximum demand of each consumer type and the potential of electricity export and import. The model was run using 2007 monthly and annual data by means of GAMS optimization software. The calculated electricity shadow price for the year 2007 was 371.2 per KWh. To get more exact results we run the model for each month separately. The results show that the price of electricity in spring and summer is lower than fall and winter, for marginal cost of power provision in winter rises. This is due to substitution of gas by gasoil and other liquid fuels and also reduction of hydropower production. For both intervals the actual price has a significant deviation from optimum price in Iranian power market.
Keywords: power market, shadow price, marginal cost, optimum production, value of lost load.
Type of Study: Applicable | Subject: انرژی، منابع و محیط زیست
Received: 2010/12/11 | Accepted: 2012/05/6 | Published: 2012/03/15
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Davod M, rezaee H. Calculating Electricity Shadow Price in Iranian Power Market. Journal title 2012; 2 (6) :155-172
URL: http://jfm.khu.ac.ir/article-1-126-en.html

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Volume 2, Issue 6 (3-2012) Back to browse issues page
فصلنامه تحقیقات مدلسازی اقتصادی Journal of Economic Modeling Research
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